“All of man’s trouble arise because he cannot sit in a room quietly by himself.” – Blaise Pascal
E.g., fight, flight, intervention, demonstration of value
Charlie Munger:
“Most people are too fretful, they worry too much. Success means being very patient, but aggressive when it’s time.”
5-2c Be impatient about the things you most want to do
2-1b3a ‘Circle of competence’ & ‘Niches’ - Build a moat. Thrive in where you can.
”The big money is not in the buying and selling … but in the waiting.”
5-1b4b3 Time beats timing
Warren Buffett:
“We don’t get paid for activity, just for being right. As to how long we’ll wait, we’ll wait indefinitely.”
2-3b ‘Leverage’ - The effort put in and its utility-results doesn’t have to correlate at all. Use this to your advantage.
7-1b3c Some technologies will be structurally overlooked by corporate networks. Barriers to entry doesn’t necessarily correlate to its importance.
Don’t get started—The big money is in the waiting. Look for a fat pitch.develop
4-1a4b2b1 ‘One-of-those’ over one-off - Learn from history (not just from your ‘own’ experience)
4-1a4b2b Being reactive is like being analog in the heat of the moment
5-2b2a Use LATER folder, instead of reactively watching-reading-listening, and give them time
2-1c1 ‘Comparative advantage’ - If others can do it, let them
5-1b1a8 ‘Opportunity cost’ and ‘comparative advantage’ must be rooted in explanations. Never use them as ad hoc criteria.
2-1c2 ‘Specialization’ - Minimizing opportunity costs maximize comparative advantages and leads to prosperity
Adopt Kissinger’s approach - simply ask “Is this your best work?”
QUE5 - What’s the best thing you could be working on, and why aren’t you
11-1c When investing, you have to address your problem. You have to hedge your risk.
9-4b3e3e ‘Friction and viscosity’ - Give THE problem as much attention as possible. Better UI-UX often can make innovation possible because users benefit from cognitive offload.